While businesses owned by minorities make up a small share of all businesses in the United States, their numbers have been on the rise.
According to the SBA Office of Advocacy, the rate of minority business ownership in 2012 was 14.6%, compared with 11.5% in 2007.
Black business owners made up 49.9% of all minority owners in 2012, while Asians made up 29.6% The Hispanic share of all U.S. business owners was 10.3% that year, compared with 8.3% in 2007. This increase reflects the fast growth of the Hispanic labor force, spurred by overall population growth and increased immigration, the SBA said.
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